Suppose That the Firm's Only Variable Input Is Labor

question 7

Multiple Choice

Suppose that the firm's only variable input is labor.When 50 workers are used,the average product of labor is 50 and the marginal product of labor is 75.The wage rate is $80 and the total cost of the fixed input is $500.What is average variable cost?

• A)$0.63
• B)$1.60
• C)$3.20
• D)$10.00
• E)none of the above

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Definitions:

Blood CO2 Levels

The concentration of carbon dioxide in the blood, which is critical for maintaining the body's acid-base balance.

Respiratory Variables

Measurements and factors that characterize the functioning of the respiratory system, such as lung volume and breathing rate.

Minute Respiratory Volume (MRV)

This refers to the total volume of gas that is inhaled or exhaled from a person's lungs in one minute.

Expiratory Reserve Volume (ERV)

The extra volume of air that can be expelled with force following a regular, gentle breath out.